Eastern Bank Sells 4,929 Shares of Ameren Co. (NYSE:AEE)

Eastern Bank reduced its position in shares of Ameren Co. (NYSE:AEE) by 28.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 12,339 shares of the utilities provider’s stock after selling 4,929 shares during the quarter. Eastern Bank’s holdings in Ameren were worth $1,100,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Jamison Private Wealth Management Inc. purchased a new position in Ameren during the 3rd quarter valued at $44,000. ST Germain D J Co. Inc. increased its position in Ameren by 134.5% during the 4th quarter. ST Germain D J Co. Inc. now owns 544 shares of the utilities provider’s stock valued at $48,000 after purchasing an additional 312 shares during the period. Cedar Mountain Advisors LLC purchased a new position in Ameren during the 3rd quarter valued at $49,000. Brooklyn Investment Group purchased a new position in Ameren during the 3rd quarter valued at $56,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Ameren during the 2nd quarter valued at $58,000. 79.09% of the stock is owned by hedge funds and other institutional investors.

Ameren Stock Performance

Shares of Ameren stock opened at $88.76 on Tuesday. The stock has a market cap of $23.69 billion, a price-to-earnings ratio of 20.88, a PEG ratio of 2.95 and a beta of 0.48. The firm’s 50-day moving average is $90.58 and its 200 day moving average is $84.98. Ameren Co. has a 1 year low of $67.03 and a 1 year high of $95.69. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.63 and a quick ratio of 0.41.

Analysts Set New Price Targets

AEE has been the topic of a number of research analyst reports. Argus raised shares of Ameren to a “strong-buy” rating in a research report on Thursday, September 19th. Barclays upped their target price on shares of Ameren from $77.00 to $88.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Jefferies Financial Group started coverage on shares of Ameren in a research report on Thursday, September 19th. They issued a “buy” rating and a $97.00 target price on the stock. BMO Capital Markets upped their target price on shares of Ameren from $93.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, December 5th. Finally, Morgan Stanley upped their target price on shares of Ameren from $86.00 to $94.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Ameren currently has an average rating of “Moderate Buy” and an average target price of $89.89.

Insider Buying and Selling

In related news, CFO Michael L. Moehn sold 6,500 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $92.15, for a total value of $598,975.00. Following the transaction, the chief financial officer now owns 205,171 shares in the company, valued at $18,906,507.65. The trade was a 3.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.42% of the stock is currently owned by company insiders.

Ameren Company Profile

Ameren Corporation, together with its subsidiaries, operates as a public utility holding company in the United States. The company operates through four segments: Ameren Missouri, Ameren Illinois Electric Distribution, Ameren Illinois Natural Gas, and Ameren Transmission. It engages in the rate-regulated electric generation, transmission, and distribution activities; and rate-regulated natural gas distribution business.